BP Profit Rises

The saga of the automobile user continues here in Portugal as we continue to have one of the worlds most expensive final consumer prices while on the other hand companies like BP Plc, Europe's second-biggest oil company, posted a 53 percent jump in fourth-quarter profit as production rose and increased its dividend, no wonder as the prices they practice here in Portugal are the most expensive ...
According to world press BP boosted the payout by 31 percent from a year ago. Net income advanced to $4.4 billion, or 23 cents a share, from $2.88 billion, or 15 cents, a year earlier, all due to the new fields in Angola, Trinidad and the Gulf of Mexico, this will boost spending this year by as much as $3 billion to find more oil.
BP said its Texas City refinery will increase production to almost full capacity by mid-2008 after faults and closures crimped output, Combined, Texas City and Whiting can process 895,000 barrels a day of crude, or more than OPEC member Qatar.
BP expects to raise extraction to more than 4 million barrels of oil equivalent a day in 2009, which will further rise to about 4.3 million barrels a day in 2012.
BP in December started oil and gas exports from the Atlantis platform after a one-year delay. Pumping will reach plateau production, 200,000 barrels of oil and 180 million cubic feet of gas a day, by the end of 2008..BP started pumping crude from the Greater Plutonio field off the Angolan coast in October and natural gas from two fields offshore Trinidad in November and December.
These sets of figures often do not correspond with actual facts ..we all see that these oil companies have huge profits mostly at the expence of the final consumer as is the case here in Portugal with not only BP but also with Galp, Repsol and so on..